Question
Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the
| Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $12,700 balance from your current credit card, which charges an annual rate of 20.5 percent, to a new credit card charging a rate of 11.1 percent. |
| How much faster could you pay the loan off by making your planned monthly payments of $260 with the new card? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Number of months |
| What if there was a 3 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| Number of months |
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Chains Of Finance How Investment Management Is Shaped
Authors: Diane-Laure Arjalies, Philip Grant, Iain Hardie, Donald MacKenzie, Ekaterina Svetlova
1st Edition
0198802943, 978-0198802945
